IMM wrote:

Loose jobs?No
government likes that, except Thatcher, who revelled at loosing them.

Gordon is doing quite well, the impact of rocketing minimum wage
increases, more holidays, more taxes and more regulations, is exporting
low wage jobs at a rate that would have petrified the Conservatives. It
is now cheaper for Ford to build Jaguars in the US than in Coventry and
call centres providing local employment are becoming an endangered
species in Scotland and Wales! There are no new employers coming
forward to reverse the process. What are the true unemployment figures
today, 4M? ( counting recognised unemployed, job seekers, training
courses, over 50's etc)

What is also currently being overlooked is that the IR have managed to
pull forward taxation which would normally be received in Jan 05 by
about 6 months IIEC, so the current PSBR figures do not compare with
previous years on a month by month basis. I expect the borrowing
requirements to rocket in Feb/Mar 05.

IMO Screwfix have messed it up, British management is infamous for it's
ability to underestimate real problems and then fail to solve them, so
why should Kingfisher be any different. Mothercare did it with a new
warehouse, a couple of years ago. B & Q are IME significantly increasing
their selling prices for a lot of items, presumably to increase profits
where there is little competition. If you look at their share price and
P/E ratio, there is IMO more chance of it falling than rising unless HD
takes it over. The yield is poor with 3% inflation around the corner.
IMO HD would do better to buy Wickes/Focus on a value for money basis,
with good growth prospects.

Regards
Capitol